Upbit will launch OPG tokens on BTC and USDT markets

CryptoQuant founder Ki Young Ju stated that the biggest risk for Bitcoin at present is not a price collapse, but rather the boring market caused by long-term sideways trading that weakens investor confidence. This environment will affect the demand and institutional premium structure, putting pressure on Michael Saylor's STRC structure capital operation model. In the absence of upward narrative support, MicroStrategy's market premium may be compressed, leading to challenges in sustained financing and coin purchase strategies. The core driving force of each cycle of Bitcoin is the narrative update around the upward logic, and currently Bitcoin lacks a new narrative center with a unified market belief.

According to SBS Biz, South Korea plans to revise its Foreign Exchange Trading Act to allow exchanges and fintech companies to participate in the virtual asset overseas remittance system expected to be launched in December this year. The amendment defines cross-border virtual asset transfer as "virtual asset transfer business", and relevant enterprises must register with the Office of the Minister of Finance and Economic Affairs of South Korea and report information through the foreign exchange computer network of South Korean banks during transactions.

In the past 24 hours, there has been a total of $452 million in online liquidation, including $367 million in multiple liquidation, $85.1618 million in short liquidation, $108 million in ETH liquidation, and $135 million in BTC liquidation.

General Intuition, headquartered in New York, is in talks for approximately $300 million in funding to build a foundational model for training AI agents to move and act in space and time. General Intuition has been spun off from Medical for eight months, having previously completed a seed round financing of $134 million. After the completion of this round of financing, General Intuition's valuation will exceed $2 billion. The company has received funding support from Jeff Bezos, Eric Schmidt, Khodra Ventures, and General Catalyst, and is jointly managed by Pim de Witte, Eloi Alonso, Adam Jelley, and Vincent Micheli.

BlackRock executive Jay Jacobs stated that approximately 75% of IBIT investors have never held an ETF, and cryptocurrency ETFs are bringing Bitcoin holders into traditional financial markets. （Cointelegraph）